Market fails to hold on to initial recovery, ends near day’s low amid mixed global cues

The stock market opened flat on Friday but failed to hold on to the initial recovery, ending near the day’s low amid mixed global cues.

At close, the Sensex was down 465.75 points or 0.55% at 83,938.71, and the Nifty was down 155.75 points or 0.60% at 25,722.10. BSE Midcap index slipped 0.5% and Smallcap indices down 0.4%.

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During the overall week, BSE Sensex and Nifty shed 0.3% and 0.6% respectively. For October, both indices added nearly 4.5% each.

Among the sectors, PSU Bank index rose 1.5%, while power, metal, media shed 1% each, and IT, private bank, and healthcare index down 0.5% each.

On Nifty, only nine stocks closed in the green while 41 stocks closed lower. BEL emerged as the best performer, rising 3.98% following a solid Q2 results announcement. Eternal was the worst loser, as it shed 3.45% followed by NTPC, Cipla, and Max Health, which lost nearly 2.5% each.

On NSE, 73 stocks hit 52-week highs in trade while 49 stocks plunged to their 52-week lows in intraday deals.

Those hitting highs were Bank of Baroda, BPCL, Canara Bank, Inox Green, MTAR Technologies, Polycab, RBL Bank, and SBI Life. Some of the prominent names on lows included Deepak Nitrite, Rolex Rings, Tejas Networks, Route Mobile, and Zee Media.

The advance-decline ratio favoured buyers, as 1266 stocks advanced on the NSE and 1805 stocks declined, while 109 were unchanged.

The key banking stocks, including IDBI Bank, IDFC First Bank, Canara Bank, UCO Bank, YES Bank, and Bank of Baroda, closed higher, gaining between 2% and 6%.

During the day, Vodafone Idea remained the most active stock in volume terms, as 77.95 crore shares of the company changed hands.

Trading on the NSE and the BSE will remain closed on Wednesday, November 5, on account of Guru Nanak Dev Ji Jayanti.

Indices were driven lower due to the cautious global sentiment and profit-taking amid mixed earnings.